Adidas (OTCMKTS:ADDYY) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Adidas AG (OTCMKTS:ADDYY) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $100.08 and traded as low as $92.9887. Adidas shares last traded at $93.23, with a volume of 34,944 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Adidas in a research note on Thursday, July 2nd. They issued an “overweight” rating on the stock. Telsey Advisory Group restated an “outperform” rating on shares of Adidas in a report on Friday, July 31st. UBS Group lowered Adidas from a “buy” rating to a “neutral” rating in a report on Tuesday, August 4th. Zacks Research raised shares of Adidas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada raised shares of Adidas from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 10th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Adidas presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.02.

Adidas Price Performance

The firm has a market capitalization of $32.87 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. The stock’s 50 day simple moving average is $100.00 and its two-hundred day simple moving average is $90.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.71 and a current ratio of 1.35.

Adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.16). Adidas had a net margin of 5.30% and a return on equity of 22.53%. The company had revenue of $7.76 billion during the quarter, compared to analysts’ expectations of $7.55 billion. On average, sell-side analysts forecast that Adidas AG will post 5.35 EPS for the current year.

Institutional Trading of Adidas

An institutional investor recently raised its stake in Adidas stock. GAMMA Investing LLC lifted its stake in shares of Adidas AG (OTCMKTS:ADDYY) by 53.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,101 shares of the company’s stock after acquiring an additional 732 shares during the period. GAMMA Investing LLC’s holdings in Adidas were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Adidas Company Profile

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.